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USD/JPY maximum profit on DT

  • #81
  • Jun 3, 2010 2:04am Jun 3, 2010 2:04am
Hi, I'm a beginner in yen trading and went long from 90.65 (my first trade). Should I close my position now? How far up can yen go?
  • #82
  • Jun 3, 2010 2:23am Jun 3, 2010 2:23am
Already taken profits at 92.48.
  • #83
  • Jun 3, 2010 3:15am Jun 3, 2010 3:15am
Haymaker - congratulation for first trade not to bad... if you go short now you should maximal your profit (it is my opinion)
  • #84
  • Jun 3, 2010 3:19am Jun 3, 2010 3:19am
realjumper: I agree with you about 93 even 94 UJ but waiting for pull back to 91.80 if not my trading will stop on SL but now I added another short on 92.56
  • #85
  • Jun 3, 2010 3:44am Jun 3, 2010 3:44am
it's a lot of news today (some of them must stay negative for usd) I wish
  • #86
  • Jun 3, 2010 3:45am Jun 3, 2010 3:45am
Quoting macher
realjumper: I agree with you about 93 even 94 UJ but waiting for pull back to 91.80 if not my trading will stop on SL but now I added another short on 92.56
Yeah a retrace is most certainly possible. I wonder though, seeing as this pa is creeping up rather than rushing up, will we see a retrace of the size you mention? If you have a look at a 15 minute chart you can see that there has been a series of tiny retraces all the way up. If there has been a big breakout to get us up where we are, I would be expecting a pretty big retrace......but I'm not so sure with this slow climb.

I really don't know, but my longs are in for the long haul, so I will keep them for now. If we do get a retrace, I'll add another long when it's over.....unless the retrace is severe in which case I'll exit and have a re-think
Doing what you like is Freedom. Liking what you do is Happiness.
  • #87
  • Jun 3, 2010 3:59am Jun 3, 2010 3:59am
realjumper: sorry my friend but I'm not going to viev charts les than 1H and on 1Day charts I see pivot point on 92.70 aera so...if we pass this line it will going your way if not it will come my way.
  • #88
  • Jun 3, 2010 5:19am Jun 3, 2010 5:19am
Quoting macher
realjumper: sorry my friend but I'm not going to viev charts les than 1H and on 1Day charts I see pivot point on 92.70 aera so...if we pass this line it will going your way if not it will come my way.
Hmmm.......Well you have your reasons I guess. I look at all charts in order to get a complete picture.

Anyway, I took one trade off the table at 92.67 due to the pa stalling at R1. I'll let the other one run......pips in the pocket is pips in the pocket!

If it does retrace I can reload, if not, the other trade is still there

By the way....I have todays pivot at 91.80 and R1 at 92.58
Doing what you like is Freedom. Liking what you do is Happiness.
  • #89
  • Jun 4, 2010 6:49am Jun 4, 2010 6:49am
I shall try to sell at 93.50 and at 95. Current trend is clearly up. Tough resistance at those prices.
  • #90
  • Jun 4, 2010 7:16am Jun 4, 2010 7:16am
Quoting Haymaker
I shall try to sell at 93.50 and at 95. Current trend is clearly up. Tough resistance at those prices.
Yes, but no resistance is so tough that it can't be broken by a determined market. I urge you to not make up your mind this far out. Wait and see with an open mind.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #91
  • Jun 4, 2010 7:26am Jun 4, 2010 7:26am
Quoting realjumper
Yes, but no resistance is so tough that it can't be broken by a determined market. I urge you to not make up your mind this far out. Wait and see with an open mind.....
I will remember your advice. Thanks realjumper. I will try to trade with an open mind. Sometimes I follow my own hunch when it comes to fast moving market. I have little experience with the yen and its behaviour, so I don't know what to expect. Hope to learn this pair well.
  • #92
  • Jun 4, 2010 7:38am Jun 4, 2010 7:38am
I have just witness the yen plunge 60 pips in a few seconds (Non-Farm Em.Ch) Wow! Learning to trade this could be fun! Exciting !
  • #93
  • Jun 4, 2010 7:45am Jun 4, 2010 7:45am
Went long at 91.95 aim 92.20. Done! Quick bucks!
  • #94
  • Jun 6, 2010 2:53am Jun 6, 2010 2:53am
last trade... Shorts 92.16, 92.26 and 92.56 target 91.83 DONE!!! 33+43+73=149 pips in my packet)) but was very close to my SL (lucky me or knowledge)
  • #95
  • Jun 6, 2010 3:01am Jun 6, 2010 3:01am
Last trade wasn't DT - Bankholidays in few countries have made the market slower... anyway Done and money from the table jumped into my wallet (shopping now)
  • #96
  • Jun 6, 2010 5:53pm Jun 6, 2010 5:53pm
Hello, what to do in this week?... earn money!!! but HOW?
  • #97
  • Jun 6, 2010 5:54pm Jun 6, 2010 5:54pm
my first position in this week is long 91.60 now
  • #98
  • Jun 6, 2010 6:31pm Jun 6, 2010 6:31pm
Quoting macher
my first position in this week is long 91.60 now
That might be a good spot. I went long also, but jumped the gun slightly. Got in at 91.80. Scooped up 20 pips in a secondary trade to, in theory, give me a 91.60 starting point.

Got a TP?
Only expectation matters . . .
  • #99
  • Jun 6, 2010 6:48pm Jun 6, 2010 6:48pm
ALWAYS but first I have to check sytuatiion on morning and put TP level after some info.
  • #100
  • Jun 6, 2010 7:01pm Jun 6, 2010 7:01pm
Quoting RebelRed
That might be a good spot. I went long also, but jumped the gun slightly. Got in at 91.80. Scooped up 20 pips in a secondary trade to, in theory, give me a 91.60 starting point.

Got a TP?
Which charts are you using? The one I am using (IG Index) hasn't gone above 91.77 this morning yet.
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